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Property big China Evergrande says it has restarted work on greater than 10 tasks throughout six Chinese language cities. The world’s most indebted developer issued social media posts on October 24, 2021, displaying pictures of buildings and staff at building websites together with an announcement saying it had resumed operations after averting a default on its offshore debt.
Associated story:
Evergrande restarts 10 tasks as founder Hui buys time to repay collectors
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Are all realty coming under pressure?
Viva China
like someone once said, it works until it doesn't. evergrande brought it upon themselves
When you know your property sector accounts for 20% GDP and then announced a policy to castrate its growth … only in china …
Evergrande social credit -10000000000000000
Energy crisis, factories leaving from china, continues natural disasters, huge debt, social disruption. The Great Fall of China has just begin.
Charma is real. God's wrath does exist no matter how you deny it.
YEEEEEEEEEEEAAAAAAAAAAAAAAAAa
Hasn't the Siu guy I mean CEO been arrested by the CCP by now for "disrupting the peace"??
Evergrande is like that one woman who keeps getting calls from creditors and says they’ll pay them but in reality just ignores them. 💀😂
At least their social credit is getting punished right? Cuz that'll make up for all the lost wages
And ceo is still a billionnaire. I know he was a friend in the inner circle of the government but still what happened to common prosperity?
Capitalist wanna blackmail Chinese government , wrong move
state should buy 75% of evergrande and continue the works , im no expert btw.
Evergrande may just be able to crawl to the goal line, covered in sweat and grime, whispering for a glass of water as they collapse on the pavement.
Evergrande was audited by PricewaterhouseCoopers. If some concerns was about the company that business could not continue, they would have raised it in audit report.
China evergrande has more debt than most developing nations
They avoided a default? They paid < 100mln debt out of the outstanding 300 BILLION. They barely made it happen, they can't sell on the books property worth 4 billion let alone get anywhere close to 300. This is a dead company.
Time to buy 🙂
Tumours should be removed. Evergrande is definitely a big one.
I passed through Beijing many times on my way in and out of Mongolia. From around 2006, Beijing had more construction cranes than some forests have trees. I recall thinking, 'this is surely NOT how Chinese people want to live, like sardines in pretty cans'. 😞
They continue to build but no one is buying.
Just like the CCP, Evergrande is a giant dumpster fire.
Chinese companies can ..without Western govts sabotage..
I smell bs
Who said they paid the bond interest, the CCP and Reuters parroted the story!!!!!
No payment has been made!
Ask your ping president to help here 😀 and tell them not to go like idiot every where..China is struggling
There is a saying: long illness – sure
We will exchange bonds for honey.
What evidence is there that Evergrande paid out bondholders just before default deadline. Anyone heard directly of any bondholders actually being paid? If so, where did Evergrande get the loan to pay up?
I'm quite sure they will cut the quality of those buildings to save cost
So much mal investment and corruption
I just wish that just as China is making sure this Everygrande owner cannot get away from personal responsibility , the US had done to the Lehman era looters – no goldman , lehman, morgans or Citi banksters ever went to prison or returned their private bonuses. In fact if any thing many of those Merill or Lehman highly paid top guys opened up private equity shops
Can't government buy it and keep people with jobs .?
FROM GATEWAY PUNDIT 10/26/21: China tells Evergrande billionaire to pay off his company’s debt with his own money. However, it’ll be difficult to pay off $300 billion in debt with $7.8 billion in worth. Chinese authorities have told billionaire Hui Ka Yan to use his personal wealth to alleviate China Evergrande Group’s deepening debt crisis, according to people familiar with the matter.
They promised that the houses will be built and they are likely to deliver considering how this all ties with CCP credibility and Evergrande will do anything not to cause a social unrest further. After the houses was built they promised that those who bought their financial product will get their money, at this point I think the government will intervene and help so the people will probably get their money back. What about their foreign bondholders? Eh.. they are likely to default on that.
Chinese government should buy evergrande if the CEO itself can’t the debt?
Major effort by the CCP and its mouth piece scmp …. To whitewash the default and push it under the carpet.
Would China 🇨🇳 allow a mighty foreign developer like capitaland or equity residential to buy them out The way America did during Lehman crisis?
Am not surprise with rogue communist ideologies after the cold war ended.There's no anybody else can do it with communist regime"lawlessman/psychopathic".U have to know what is communist means?,forget about human right,democracy,freedom of speech,freedom of expression,freedom of religion,freedom of assembly,freedom of advertising,freedom to vote or free election or choose someone be your representative,no petition to govm't,no independent media or foreign news reporter,no negative news broadcasting is only positive news for only one communist ruler and the rest other must be restriction or face serious consequence"note… everything u earned are not belonged to u in communist regime"everything u hve had would belonged to only one communist party,and no one else dare to oppose it"especially china/nkorea example".It doesn't matter u poor or rich at all,if u guy get problem with govm't authority or bring them to the court,there's no any lawyers or attorney represence u at all,all judges are represence to only communist regime.
The CEO was warned 10 years ago.of over supply and cost of housing
He ignore the warning and continue barrowing
It'll only took a 5.0 earthquake to level china. They're lucky china had none so far
They should hire evergrande for military sometimes. They make IEDs with cheap material and took more lives with it